Business Created
August, 2019 - (2 years 10 months old)
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KEY HIGHLIGHTS
OPERATIONS
This business is an online only education business. Revenue is made via two ways, i) customers purchase downloadable notes packs which come with branded and proprietary notes, templates, quizzes and other resources ii) online courses, which are a series of videos and quizzes to help students get through exams.
The topic area of study is in relation to a niche field of post graduate accounting in Australia, which has no direct competitors and covers students in Australia, New Zealand, and Singapore.
All video content is hosted on YouTube (some public to get traffic, the rest private and only accessible via website). All courses are built and you don't need to create any content yourself.
CUSTOMERS
Customers are students who are undertaking a post grad finance course which is mandated by big 4 accounting firms (i.e. KPMG, PWC, EY) plus a number of other firms to work there. The course typically takes 3 years to complete and customers typically are recurring / repeat purchasers during this 3 year period.
Customers are acquired by 1) Word of mouth (we have grown a lot because of positive reviews and people telling their friends), 2) Organic Google ads searches, and 3) AdWords for very specific key words (the name of the course).
Customers are loyal and typically come back after purchasing 1 set of notes + will refer their friends. Customers are also price insensitive, we have increased prices several times to date and even changed currency to USD instead of AUD due to our international expansion, all of which has increased average spend consistently.
FINANCIALS
The business is all automated. I literally spend 0 hours per week on it. I have a Google ad set up which I spend US $450 per month consistently and the ad is optimised and works well. I don't spend money on any other ads. This is the only cost aside from hosting my website which is US$300 per year. As a result my margins are incredibly high. I typically generate about $60K per year in EBITDA, and it is pretty stable (with some seasonality month to month, but year on year decent growth with upside on pricing)
August, 2019 - (2 years 10 months old)
The following are included in the sale of this business:
You don't need a developer to take over the business. It's all hosted on Wix which even beginners can learn to edit so if you want to make any design changes you can do it yourself or find someone on outsourced to help (or me).
You don't need to update the video courses or notes so there's no real work required on the business, the money just comes in. Of course if you have some ideas on how to improve the business, the upside is all yours, e.g. by increasing prices, monetizing the YouTube channel adding extra products, services or courses as ancillary options for purchase or even going into the continuous education section as post graduation students need to maintain a certain level of courses/study and you can charge them for this.
I can provide post sales support for 6 months. It is really a set and forget asset that brings in good cash flow.
I'm trying to buy a house.